13 Cheapest Countries to Live in

What are the cheapest countries to live in in 2024?

Would you like to move abroad without breaking the bank?

You have come to the right place!

These 13 countries offer a low cost of living without sacrificing quality of life.

We have explored some of the best options when it comes to the cost of living across the globe.

All statistics in this article are accurate as of February 2024, according to numbeo.

Whatever your budget and lifestyle, you’ll find something suitable for you in one of these countries across different continents.

Romania

Corvin Castle, Romania. Image credit: Depositphotos

The first country on our list is Romania, one of the cheapest countries to live in the world!

A budget-friendly paradise awaits you in this Eastern European country.

It costs around £6.24 to get a meal at a local restaurant, and around £344.47 to rent a one-bedroom apartment in the city centre.

The estimated cost of living in Romania is £496.7 per month.

In addition, you will be surrounded by natural wonders like the Carpathian Mountains and the Danube Delta, as well as historical cities and castles such as Sighisoara.

Vietnam

Hạ Long, Vietnam. Image credit: Unsplash

The next country on our list is Vietnam. Located in Southeast Asia, this country is ideal for budget-conscious buyers.

The estimated monthly cost for a single person is £373.9 without rent.

For around £278.34 per month, you can rent a one-bedroom apartment in a larger city centre and eat at a local restaurant for as little as £1.62.

Furthermore, you will have the chance to check out beautiful beaches, street food, as well as ancient temples and pagodas like those found in Hue and Hoi An.

Costa Rica

Costa Rica is one of the cheapest places to live in the world. Image credit: Depositphotos

When it comes to Central American destinations, Costa Rica is a great choice.

Its national parks, such as Manuel Antonio National Park, Tortuguero National Park, and Corcovado National Park, are known for their biodiversity and ecotourism opportunities.

A meal at a local restaurant costs around £7.66, while a one-bedroom apartment in one of the large city centres costs around £494.96.

It is estimated that a single person will spend £668.5 per month without rent.

Bulgaria

Bulgaria is another country in Eastern Europe that’s budget-friendly.

For around £300.01 per month, you can rent a one-bedroom apartment in a major city centre and eat at a local restaurant for around £7.41.

When it comes to monthly cost you can expect to spend an average of £487.8 per month without housing costs.

Additionally, you can experience ancient Thracian tombs, medieval churches and fortresses, as well as beautiful beaches on the Black Sea and ski resorts in the Rila and Pirin mountains.

Slovakia

Bratislava, Slovakia. Image credit: Depositphotos

Slovaks enjoy a low cost of living as well.

You can get a meal at a local restaurant for around £6.01 and rent a one-bedroom apartment in a city centre for around £492.85.

The average cost of living per month without rent in Slovakia is £627.5.

As well as castles and Gothic churches, you can explore the Tatra Mountains and Slovak Paradise National Park.

Mexico

Cancun, Mexico. Image credit: Pixabay

If you’re looking for a low cost of living in Central America, Mexico is a great option.

One-bedroom apartments in a large city centre cost around £401.47 per month and a meal at a local restaurant costs around £7.19.

The monthly cost of living before rent in Mexico is £540.0, with the average monthly rent in a city centre sitting at £539.61.

You will also have the opportunity to explore ancient Aztec and Maya ruins as well as colonial architecture in cities such as Mexico City, Guadalajara, and San Miguel de Allende.

South Africa

Cape Town, South Africa. Image credit: Depositphotos

A great option if you’re looking to relocate to Africa is South Africa.

An average meal at a local restaurant costs around £6.27.

The cost of a one-bedroom apartment in the heart of a city costs about £347.28, with additional living costs estimated at £447.1.

The Kruger National Park and Table Mountain are just two of the landmarks that will captivate your attention, as well as the diverse culture and wildlife.

China

It may surprise you that China is one of the cheapest countries to live in. Image credit: Pexels

China is an affordable option in Asia.

It costs around £2.97 to get a meal at a local restaurant and around £521.55 per month to rent a one-bedroom apartment in a large city centre.

After you have paid rent you should anticipate spending an average of £460 per month.

You will also be able to experience the rich history and culture of China, including ancient imperial dynasties as well as iconic landmarks such as the Great Wall and Terracotta Army.

South Korea

Gyeongbokgung Palace, Seoul, South Korea. Image credit: Depositphotos

Despite its low cost of living, South Korea maintains a high standard of living.

One-bedroom apartments in the heart of a busy city can be rented for around 49.0% less than in the United Kingdom!

The estimated monthly living costs for an individual living in the country is £831.1.

Additionally, you’ll have the chance to see high-tech cities like Seoul and ancient ruins in Gyeongju as well as traditional Korean architecture.

Thailand

Bangkok. Thailand. Image credit: Unsplash

The budget-friendly country of Thailand is another option in Asia.

Generally, a meal at a local restaurant would cost around £2.21, while rent for a one-bedroom apartment in the centre of a city will cost around £381.27 per month.

The average cost of living in Thailand is £444.2 per month after rent.

In addition, you can enjoy the stunning beaches on Koh Samui and Phuket, as well as the delicious street food.

You can also visit Buddhist temples and ancient ruins like those at Ayutthaya.

Croatia

The Old Town of Dubrovnik, Croatia. Image credit: Depositphotos

For those seeking a low cost of living in Europe, Croatia is a great option.

Disregarding rent, the average cost of living in Croatia is sitting at £602.70 in 2024.

The cost of a meal in a local restaurant is around £8.53, and renting a one-bedroom apartment in the city centre is about £469.60 per month.

In addition, you’ll have the opportunity to visit destinations like Dubrovnik and Split, as well as national parks like Plitvice Lakes.

Peru

Among South America’s budget-friendly options is Peru.

In a key city, you can rent a one-bedroom apartment for around £309.21 a month with a meal at a local restaurant averaging at £2.86.

When it comes to the cost of living you can expect to pay an average of £308.13 per month before rent.

Aside from exploring the ancient Incan ruins like Machu Picchu, you’ll get to see the Amazon rainforest and the Andes mountains.

Poland

Warsaw, Poland. Image credit: Depositphotos

The cost of living in Poland is also low.

A meal at a local restaurant costs about £5.91 and a one-bedroom apartment in a large city centre costs about £630.03.

You can expect to pay an average of £565.2 per month without rent.

Moreover, you’ll be able to discover a rich history and culture with landmarks like Krakow’s Wawel Castle and Gdansk’s Old Town.

Moving to One of the Cheapest Countries to Live in?

Clearly, there are many budget-friendly options for those considering moving abroad.

This list includes 13 countries that offer a low cost of living while still maintaining a high standard of living.

Consider these options when choosing where to relocate.

Hopefully, you have found our guide helpful and will soon be moving to one of the cheapest countries in the world to live in.

You can start preparing for your dream move with the help of our International removals service from White & Company today!

Regardless of which country you choose to move to, we will ensure your belongings arrive safely without disruption.

White & Company are also pleased to announce our new video survey service.

During these unprecedented times, we can safely conduct remote removals surveys, ascertaining all the relevant information for your move, all from the comfort of your own home.

So, give us a call today or fill out a quick quote form to see how we can get your dream move in the works.

Max Peterson

Max is a seasoned writer and blogger in the real estate and home moving sectors, as well as a knowledgeable source of information for expatriates living and working abroad. His detailed insights have helped thousands of people move and live abroad with greater simplicity and ease.